5 Best E-Bike Insurance Companies in Australia

Last Updated on January 29, 2024 by Igor Karni

Australian e-bike enthusiasts can rejoice because there’s a handful of standalone insurance providers they can avail of. Compared to other countries, Australian specialized bike insurance companies are more than willing to include e-bikes in the range of vehicles they cover. 

You just have to make sure that the e-bike you’re insuring doesn’t exceed 300 watts and is categorized as a “pedal-assist” model. Take note that some companies limit this to 250 watts and must have a maximum speed of 25 kilometers per hour only. 

If it functions more as a moped or relies solely on its own engine or alternative power source to run, then it may not be considered an e-bike. Nonetheless, some companies may still cover it. It will only require different insurance. 

Read also: What are the best-known e-bike brands in Australia? And, What are e-bike financing options in Australia?

Australian Specialized E-Bike Insurance Comparison Table

To get a quick overview of what companies offer specialized e-bike insurance, we’ve prepared the following table for you. The table only reflects the essential coverages. Should you want to know more about the company and its complete benefits, then please proceed to read about them in the section that follows.

Company	Max Value Covered	E-Bike Damage & Theft Coverage	Public Liability Coverage	Medical Coverage	Accessory Coverage
Velosure	No limit indicated	✓	$20,000,000 but offered as a separate policy	$1,000 (non-Medicare)	Included
Wiggle	Up to $30,000	✓	Up to $10,000,000	$1,000 (non-Medicare	Included
Bikesure	No limit indicated	✓	None	None	Optional
Real Insurance	Up to $30,000	✓	None	$1,000	Included
Sundays Insurance	No limit indicated	✓	Up to $20,000,000	$1,000 (non-Medicare)	Optional

Velosure

Just ask most e-bike owners in Australia, and we’re willing to bet that most of their models are covered by this company. It’s got a global presence and a fairly established reputation already so it’s not really a surprise. Sure enough, it’s one of the first in the country to offer specialized insurance to e-bike owners. 

Read also: Here is why e-bikes are really cool. And, How to select the best city e-bike (with examples)?

That’s not where most of its popularity hinges, though. Many love Velosure because it defines what specialized insurance should be, with its close to complete coverages. For one, Australia already provides free hospitalization, but Velosure takes a step further by providing up to $1,000 cover for personal accidents. It also has a full coverage of accidental damage to one’s e-bike. 

It also supports multi-bike discount, cover for optional custom parts, and racing cover, making it a recommended option for the avid e-bike rider. Incidentally, third-party coverage is offered but it must be availed of as a separate policy. It’s offered at a static $60 per year premium and includes cover for bodily injury and property damage. 

Risks	Coverage
Full value cover	✓
Crash damage	✓
Theft at or away from home	✓
Vandalism	✓
Third-party liability	✓
Family cover	X
Worldwide cover	✓ (optional)
Race fee cancellation	X
Accessories cover	✓ (optional for custom parts)
Dental and physical injuries	✓
Roadside recovery	X
Apparel and helmet cover	✓ (only for bicycle rack)
Racing cover	✓
Training cover	X
Emergency bike hire	X
Shipping cover	✓ (indicated as ‘Transit Cover’)

For further details, visit the Velosure website.

Wiggle

It’s safe to say that Wiggle is one of the major advocates of e-bike riding in the country. That being said, they’re also proactive in informing e-bike owners about the risks of relying only on home insurance to cover e-bikes. 

True enough, it offers two of the most reasonable insurance packages for e-bike riders. You can choose between the more basic Essential Cover or the more complete Comprehensive Cover. 

Read also: 7 ways to get paid to ride your e-bike. And, Does it make sense to buy the cheapest e-bike?

The former is offered for a static $100 a year because it has set values that it covers regardless of the model’s price. The latter bumps the maximum values covered by the Essential package by more than tenfold, actually. Its medical coverage is similar to that of Velosure and amounts to $1,000. 

Looking at the benefits you can get, Wiggle’s insurance policies are pretty solid, to say the least. All of the maximum amounts you can claim are readily available for your reference. While they don’t claim to provide full value cover, it’s apparent from the amounts they cover that you will have more than enough for the average prices of e-bikes. This rings especially true if you avail of the Comprehensive Cover. 

It even offers unique coverages like a chauffeur plan, counseling support, death lump sum, funeral costs, as well as home help expenses. You can easily view the total values for these coverages by going to their main website. 

Risks	Coverage
Full value cover	✓
Crash damage	✓
Theft at or away from home	✓
Vandalism	✓ (termed as ‘Malicious Damage’)
Third-party liability	✓
Family cover	X
Worldwide cover	X
Race fee cancellation	X
Accessories cover	✓
Dental and physical injuries	✓
Roadside recovery	X
Apparel and helmet cover	✓
Racing cover	X
Training cover	X
Emergency bike hire	X
Shipping cover	X

For further details, visit the Wiggle website.

Bikesure

Founded in 2009, Bikesure smoothly became one of Australia’s household-brand bike insurance companies in recent years. Overall, it’s one of the more solid options for e-bike riders, especially those that already have great standing when it comes to previous insurance policies they’ve owned.

That’s one factor that Bikesure uses when calculating your premium, after all. You can definitely negotiate a cheaper premium compared to other companies. We recommend this to riders that only want the essentials like full value coverage. 

Read also: Can e-bikes get wet? And, How to clean an electric bike?

Its Total Loss claim is particularly notable since it allows you to get a replacement for your lost bicycle, given that it’s not over 2 years old. It will be replaced with a new model of the same “make, model, and series”, including accessories. On the whole, it’s similar to the new-for-old coverages some insurance companies offer. 

Do take note that the accessory cover is only optional and limited to damage and theft. You may want to consider this company if you’re looking for a cheaper alternative and don’t mind not getting any additional coverages.

Risks	Coverage
Full value cover	✓
Crash damage	✓
Theft at or away from home	✓
Vandalism	X
Third-party liability	X
Family cover	X
Worldwide cover	X
Race fee cancellation	X
Accessories cover	✓ (optional)
Dental and physical injuries	X
Roadside recovery	X
Apparel and helmet cover	X
Racing cover	X
Training cover	X
Emergency bike hire	X
Shipping cover	X

For further details, visit the Bikesure website.

Real Insurance

This is almost similar to Wiggle Insurance in the way it’s very e-bike rider-friendly with its coverages. Based on the coverages alone, you’ll see that they know what the average rider needs. 

You have the option of choosing between a basic Leisure cover (with a maximum value coverage of $3,000) or a Sport cover (which bumps the total coverage to $30,000). Leisure only covers the essentials like damage and theft within the country. 

Read also: What is the best way to store an e-bike? And, How to prepare an e-bike for winter?

That said, we can safely say that it’s better to choose the Sport package considering the wide discrepancy between the two. If you like to take frequent offroad excursions, the package appears to be made specifically for you. 

With it, you may avail of an optional worldwide cover, medical coverage, a notable road hazard wheel damage cover, a cover for custom parts, and damage to the bicycle rack. Also keep in mind that the total value covered by the package is actually a range between $1,000 to $30,000, allowing you to take control of how much premium you pay.

Risks	Coverage
Full value cover	✓
Crash damage	✓
Theft at or away from home	✓
Vandalism	✓
Third-party liability	✓
Family cover	X
Worldwide cover	✓ (optional)
Race fee cancellation	X
Accessories cover	✓ (includes custom parts and extra wheels)
Dental and physical injuries	✓
Roadside recovery	X
Apparel and helmet cover	✓ (included in accessories cover)
Racing cover	✓
Training cover	✓
Emergency bike hire	X
Shipping cover	✓ (local only)

For further details, visit the Real insurance website.

Sundays Insurance

Sundays Insurance is an international bike insurance company that happens to cater to Australian citizens, too. They only serve US, UK, and AU citizens to be exact. It’s another one of those bike insurance companies that serve as a perfect choice for regular e-bike riders that love to travel and race a lot.

Read also: How to protect your e-bike from theft? And, Does it make sense to buy specialized e-bike insurance?

You can choose between two policies: Cyclist Insurance or Bicycle Insurance or opt to combine the two to get the most protection. Notable, unique benefits include a new-for-old coverage assuming the model hasn’t exceeded two years as well as a multi-bike discount for those who want to insure more than one e-bike at a time. 

One other noteworthy benefit is that your premium won’t increase even if you already make successive claims. You have the freedom to insure your e-bike up to its market value, although the company recommends you aim for its retail price. You may also choose the exact accessories that you want to cover.

With all things considered, it’s an insurance company that gives riders plenty of leeways when navigating insurance policies and deciding their premiums. You’ll discover soon enough that you won’t have to look elsewhere if you’re aiming for full protection. 

Risks	Coverage
Full value cover	✓
Crash damage	✓
Theft at or away from home	✓
Vandalism	✓
Third-party liability	✓
Family cover	X
Worldwide cover	✓
Race fee cancellation	X
Accessories cover	✓
Dental and physical injuries	X
Roadside recovery	X
Apparel and helmet cover	✓ (can be included in accessories cover)
Racing cover	X
Training cover	X
Emergency bike hire	X
Shipping cover	X

For further details, visit the Sundays insurance website.

A few words in conclusion

Australia may not be as blessed as other countries when it comes to the number of specialized e-bike insurance they have. However, we can argue that they don’t really need to go for quantity, considering these 5 options. All of them already impart plenty of variability in their policies that suit most casual and hardcore e-bike riders’ needs. 

Read also: Check out Australia’s best travel destinations by electric bike.